Refer to the cost and production data for the Wave Darter in Exhibit 155. The target profit is $60,000. Required: Use the general formula for

Refer to the cost and production data for the Wave Darter in Exhibit 15–5. The target profit is $60,000.

Required:
Use the general formula for determining a markup percentage to compute the required markup percentages with the following two cost-plus formulas:
1. Variable manufacturing costs [formula (1) in Exhibit 15–5].
2. Absorption manufacturing cost [formula (2) inExhibit 15–5].

Price and Cost Data Variable manufacturing cost Cost-Plus Pricing Formulas Varable manufactugMrkupVariabe .. 1 $925=S400+ (131.25% $400-manufacturing + x manufacturng $400 percentage Applied fixed manufacturing cot.250 Absorption Absorption Markup x manufacturng percentage manufacturing cost Variable seling Allocated fixed selling 650 2 S925-S650 + (423%"x$650):manufacturing + cost 100 TotalMarkup Total cost peage cost Total cost $800 3$925:$800+ (15.63%" x$800) Variable manufacturing cost.. $400 Variable selling and administrativeot 50 Total Total Total variable cost $450 4 $925-$450 + (105.56%" x $450 : variable + | Markup p y variabe percentagecost "Based on planned monthly production of 40 units for 480 units per yaar. Rounded.